Description: This issue wraps up the publication of essays to explore solutions available to address risks in retirement and focus on risks in a DC environment.

Description: The authors explain big data and the potential uses of this information, especially as it is beginning to be adopted by the life insurance industry.

Description: February issue of The Stepping Stone

Description: ICP 16 and its requirement for an Own Risk and Solvency Assessment (ORSA) will offer opportunities for the actuarial profession to provide uniquely well-educated and professional assistance to this process.

Description: Companies are exposed to a variety of risks related to the development and implementation of their business strategy. There is an extensive amount of literature about enterprise risk management (ERM), yet it is still possible to find a new opportunity to analyze how different kinds of risk information can be objectively considered by senior management to enhance corporate governance and strengthen sound decision-making processes. Strategy formulation is the main part of the strategic planning process. A robust ERM framework must provide relevant risk information for decision-makers so as to reduce the possibility of selecting a mistaken strategy or overlooking an important one. Most common strategic planning tools do not even take risk into account, which worsens the situation. Subsequently, it is time to identify and measure strategic risks. They can leverage, hinder or prevent the fulfillment of the strategic objectives. Risk management may also support the development of institutional actions so as to increase the likelihood of reaching expected results. Furthermore, strategic risks should be monitored through key risk indicators to allow the identification of conditions that could lead to a risk event. This paper aims to introduce a new comprehensive model that integrates risk management into strategic planning. A number of risk tools, improvements to be made by risk managers and a practical application of the model are presented to make possible the establishment and deployment of an effective strategy by the organization.

Description: Book review of Thinking, Fast and Slow by Daniel Kahneman.

Description: To persuade successfully and non-manipulatively, it's important to understand five key principles of influence. Principle #5: A person will more likely be influenced if you help them get to the heart of the matter.

Description: No matter what you do, you are in sales in some way. The word, "sales" or "selling" brings up negative connotations for many people. It may be helpful to think of it as "influence". Whether you're a sales professional, coach, consultant or executive - there are key stakeholders in your world you need to influence. To persuade successfully and non-manipulatively, it's important to understand five key principles of influence. Principle #3 is covered here.

Description: The article endorses broader use of lifetime income in DC plans. It explains why the use of DB plans will continue to decline. The article points out that plans sponsors will not willingly take on additional ERISA fiduciary exposure. The article endorses three regulatory reforms that would increase the use of lifetime income in DC plans. 1. A robust annuity issuer safe harbor that would free employers from fiduciary exposure for putting an annuity provider on the DC platform. 2. A requirement that a plan offer a lifetime income option to qualify for the 404(c) safe harbor. 3. A revision to 404(c) to allow plan sponsors to allocate part or all of the employer match to lifetime income.

Description: It is a summary of the articles in the March issue of Health Watch.